A broad concept which encompasses digital technologies such as databases, IoT and IoE to collect data about the customer needs, behavior, and preferences; and then AI and machine learning is used to analyze collected data to provide personalized services and customized goods based on the knowledge and intuitions. Intelligent agents and bots are also used to automate customer services and interaction with customers (Baeva et al., 2022 AU100: The in-text citation "Baeva et al., 2022" is not in the reference list. Please correct the citation, add the reference to the list, or delete the citation. ).
Published in Chapter:
Smart Marketing: A Multi-Stakeholder Review of Implications for Sustainable Business Practice
Copyright: © 2024
|Pages: 24
DOI: 10.4018/979-8-3693-1339-8.ch010
Abstract
Smart marketing is a term that encompasses various forms of marketing that leverage artificial intelligence (AI) and the internet of things (IoT) to deliver personalized, relevant, and engaging experiences to customers. This research aims to provide a comprehensive literature review on smart marketing, covering its definitions, applications, advantages, disadvantages, and implications on sustainability. The chapter also discusses the benefits and challenges of smart marketing for both marketers and customers, such as improved efficiency, effectiveness, creativity, customer satisfaction, loyalty, and retention, as well as ethical, privacy, security, and social issues. Furthermore, the chapter examines the impact of smart marketing on sustainability, highlighting the potential opportunities and risks for environmental, social, and economic dimensions. The chapter concludes with some suggestions for future research directions and best practices for smart marketing.